Overall it looks solid. However, I feel like this Icon is a mixture of two things, on the one hand, the grip on the axe symbolizes a swing, which would indicate a more active form of usuage, leading to the icon being able to fit for an active ability.
On the other hand, the axe is very detailed and could be as well used as an item, but the hand disturbs that look a tad.
Therefore, you should consider adding two varations of this icon, one with hand to indicate an ability and one without to indicate an item.
Solid overall, I like the different versions in the attachments. 'd give 5/5 if the definition was clearer, this way it's just 4/5.